“The weak performance was driven by lacklustre contribution from Japfa Comfeed Tbk (JPFA), whose EBIT declined by 52.2% y-o-y to US$29.8 million,” says DBS Group Research lead analyst David Hartono in a Thursday report.
SINGAPORE (Nov 4): On the surface, 3Q19 was a dismal one for Japfa, as the group booked earnings of US$9.6 million ($13.0 million), down 33% from US$14.3 million for the same period in the preceding year.
Yet, the 3Q19 results were in line with analysts’ consensus expectations.
